Back to top

EXCLUSIVITY TERMINATION AGREEMENT

Exclusivity No Shop Agreement

EXCLUSIVITY TERMINATION AGREEMENT | Document Parties: HOMESTORE INC You are currently viewing:
This Exclusivity No Shop Agreement involves

HOMESTORE INC

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: EXCLUSIVITY TERMINATION AGREEMENT
Date: 4/21/2005
Industry: Real Estate Operations     Sector: Services

EXCLUSIVITY TERMINATION AGREEMENT, Parties: homestore inc
50 of the Top 250 law firms use our Products every day
 

Exhibit 10.1

Exclusivity Termination Agreement

     This Termination Agreement (this “Agreement”) is entered into effective as of April 6, 2005, by and between RealSelect, Inc. (“RealSelect”) and its parent Homestore, Inc. (together referred to as “Homestore”), and REALTORS Ò Information Network, Inc. (“RIN”) and its parent the National Association of REALTORS Ò (together referred to as “NAR”). Capitalized terms used but not defined in this Agreement shall have the meanings as set forth in the November 26, 1996 Operating Agreement between RIN and RealSelect, which has been amended from time to time (as amended, the “Operating Agreement”).

     WHEREAS, pursuant to Sections 3.2 of the Operating Agreement and Article IV of the November 26, 1996 Joint Ownership Agreement between NAR and Homestore, Homestore and NAR are bound to certain exclusivity obligations with respect to the Electronic Display of Real Property Ads and the RPA Business;

     WHEREAS, the parties desire to terminate such exclusivity obligations with the respect to Foreign Property Listings and Commercial Property Listings (as defined below) upon the terms and conditions set forth herein;

     WHEREAS, the parties entered into that certain Amended and Restated Agreement Regarding International Activities dated October 31, 2001 (the “International Agreement”);

     WHEREAS, the parties desire to terminate the International Agreement upon the terms and conditions set forth herein;

     WHEREAS, NAR and the International Consortium of Real Estate Associations (the “Consortium”) desire to participate together in the aggregation and display of Foreign Property Listings, which may also include Commercial Listings; and

     WHEREAS, Homestore has requested and NAR has agreed to provide reasonable marketing support to assist Homestore in the promotion of a new alternative way for REALTORS® to pay for advertising on REALTOR.com known as pay-for-performance.

     NOW, THEREFORE, for valuable consideration, the receipt of which is hereby acknowledged, the parties hereby agree as follows:

1.    Release of Exclusivity Obligations . Subject to Section 2 below, Homestore and NAR hereby release each other from any and all Exclusivity Obligations (as defined below) regarding the aggregation, display, distribution (on the Internet or otherwise), exploitation and/or other activities of Foreign Property Listings and Commercial Property Listings. Accordingly, subject to Section 2 below, Homestore and NAR may engage, directly or indirectly, in any business or activity related to Foreign Property Listings or Commercial Property Listings. Such business or activity may be independent from the

 


 

other party and may be direct, indirect, alone, or with others, and the parties need not account to or share revenues with on


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more